always in sync!

Discover‐Adapt‐Execute

Inven5on2Venture

10/24/09UjjwalGupta

StartUpLateralThinking

DISCOVER

TEST LEARN

EXECUTE

TheStoryofWatermelonExpress

ADAPT

DISCOVER

•  Read and Research

Wall Street Journal Reports: In the month since Apple opened an online software clearinghouse called the App Store, users have downloaded more than 60 million programs for the iPhone, Chief Executive Steve Jobs said in an interview……Apple sold an average of $1 million a day in applications for a total of about $30 million in sales over the month, Mr. Jobs said. Gartner Research Report: Worldwide smartphone sales totaled 32.2 million units in the second quarter of 2008, a 15.7 per cent increase from the second quarter of 2007, according to Gartner, Inc.

Mobile Applications are bound to grow as more user migrate towards smart phones and demand sophisticated services on their phones

** Simple applications like: fish tank, beer simulator and virtual pet made ~$1MM in one month

ADAPT

• Adapt to the new conditions and be ready to change • Short term strategies to evaluate long term business potential

• You WILL be proven wrong •  Better to make mistakes early on

•  Everything is possible But are you the right person to make it happen

LEARN

Stuckwithaquizzingappcodewithnobudget

Testedtheconceptofatestprepapp

Avg.ImeonWMXapp=6hrs/week

~30xavg.iPhoneapp

VeritasPrepreleasesafreeapp

forGMAT

Testedtheconceptofdesktopapp

Syncingisakeyconveniencefactor

forstudents

EnabledcrossplaVormsync

EmbeddedanalyIcsinthecodetotracked

usage

TEST

EXECUTION•  KISS: Keep it Simple, Stupid!!! •  Be a customer advocate •  Keep your costs low without compromising on quality •  NETWORK, NETWORK and MORE NETWORK

FirstGMATappdidnotevenhaveaImer

Allowedustoreleaseitfastandtestthemarket

Nextversionhadthechartsandreportsto

breakdownperformancebyIme

CustomersaskedforImerandImeperquesIon

NewproductdesignwastooambiIousforourbudget

DidnotwanttoinvestImein

securingfunding

Leveragedonlineresourcesandoutsourced

developmentat25%cost

INNOVATIONInnovation is a overwhelming term for problem solving

•  Learn the science of problem solving •  Identify the problem and break it down

PROBLEM SOLUTION

• Customer Review: “iPhone app can not replace books but is a good compliment”

•  iPhone App is not a sustainable business

• We can not compete against the big-wigs

• We don’t have marketing budget to support a web app

• Developed the “Scratch paper” function that allows user to use iPhone screen as a writing pad

• Developed desktop and web versions of the app to cater to wider audience

•  Introduced cross platform SYNC to raise entry to barrier

• Built a plug-n-play web widget that can embed the web app in any website within 10 mins to allow tutors to sell our product

LEARNINGS

ReadandResearch

BeMertomakemistakesearlyonandevolvethroughthem

Focusonproblemsolving

Adapt

Network

Listentoyourcustomers